It is a big boost for the Owls ahead of Saturday’s FA Cup tie with Fulham as the midfielder has established himself as a key member of Carlos Carvalhal’s side since arriving on a free transfer from Crystal Palace last August. His initial contract was due to run out in the summer.

Speaking at his press briefing today, Carvalhal said: "I think Barry Bannan will be here with us and I am sure that will be solved soon.

"He likes it here with us and we like him."

Carvalhal revealed Marco Matias and Sergiu Bus have both returned to full training while he is unsure of Gary Hooper's availability for Saturday's FA Cup clash.

Meanwhile, out-of-favour Owls defender Darryl Lachman has moved to Dutch top division side SC Cambuur Leewarden on loan until the end of the season. The centre-back has failed to make a single appearance since joining Wednesday for an undisclosed fee last summer.